How to Keep Track of Your Real Estate Holdings

Does your family have real estate holdings outside of their primary residence? If so, it’s important to have adequate documentation all in one place. We recommend using our document “Everything My Family Needs to Know” to gather this information. Inside this document, you’ll find an organized list that will help you think through important information.

We understand that there may be one spouse who takes care of all the financial information in the family. And while he or she may know where all the information is located, oftentimes, their spouse does not. With various investments to keep track of, there are many different documents with important information. It’s to your benefit to utilize this document and have it all in one place, and to share it with those who are closest to you.

Which Real Estate Holdings Should I Include?

Include everything! This document will help you think through your properties, including your primary residence, vacation homes, investment and rental properties, and even timeshare interests.

For example, if you have an investment or leasing property, it’s important to know who the mortgage company is, and if there is a lessee, their contact information. There is space in this document to fill out that information.

Do you have a timeshare that you use just once or twice a year? It may slip your mind to include this information in a list, but we encourage our clients to list these properties as well, and there is space for it in the provided document.

Who Should I Share This Information With & Where Should I Store it?

Oftentimes, only one spouse has the information, but it’s in a couples’ best interest to share that information and know that it’s stored in a safe place, should tragedy strike in the future.

We recommend distributing this document to several people. Place a copy in your safety deposit box at the bank, or in a fireproof safe at home. Also share it with your spouse and another family member or close friend. It’s best to have duplicate copies given to at least three people.

This document will give you confidence as you plan for the unexpected in your future. Set aside some time to fill out this information and share it with those closest to you. We promise, you won’t regret it.

About Caldwell Trust Company

Caldwell Trust Company is an independent trust company with offices in Venice and Sarasota, Florida. Established in 1993, the firm currently manages over $800 million in assets for clients throughout the United States. The company offers a full range of fiduciary services to individuals, including services as trustee, custodian, investment adviser, financial manager and personal representative. Additionally, Caldwell manages 401(k) and 403(b) qualified retirement plans for employers.